Chart of Accounts
A separate COA is created for each company; however, you can create a COA for one company—the master COA—and then copy it to the others using the Copy COA utility as developed in the next chapter. The accounts created here are selected for each transaction during voucher generation, report calls, and preparation of financial statements. Because this setup is similar to the cost center setup, you will use the copy utility to save some time. The account code used in this setup uses the format 9-99-999-99999, which contains four separate number groupings or levels.